Word: prebisch
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Getting Poorer. The conference's moving force and secretary-general is Argentina's German-descended Dr. Raul Prebisch, 62, who recently jetted to more than 20 capitals, from Canberra to Moscow, to win support for the conference from governments and business leaders. Last week, in a 165-page report, he outlined the problems and proposals that the Geneva conference will tackle...
...Prebisch is worried most by the growing "trade gap" between what is bought and sold by the poorer nations -in Latin America, Asia, Africa. From 1950 to 1960 their share of world trade declined from 30% to 20%, and their imports expanded much faster than their exports. On top of that, a world commodity glut held down prices of their exports-mostly food, fuel and fibers-while prices rose for the increasingly complex machines that they import. Because of the switch to synthetic goods and new efficiencies in manufacturing, the industrial nations are buying relatively less natural rubber, textiles...
Flexible & Unorthodox. Many of these ideas stem from Prebisch, whose critics call him a statist-although he refuses to be typed. "Save the world from economists," he says. "Experts cannot run the world." But Prebisch has spent 30 years trying to change a good part of the world through his flexibly unorthodox theories. In his early days, Prebisch fastened on to the conservative doctrines of the classical economists...
...experts smiled skeptically two years ago when a U.N. economist. Argentine-born Raúl Prebisch, got six Latin American nations to talking about forming a common market. That kind of thing was all right for a well-developed Europe, they said, but backward Latin nations were too accustomed to protecting national industries with high tariff walls. And since a major slice of every government's revenue came from import and export duties, they could hardly be expected to agree on mutual tariff cutbacks. But last week seven Latin nations * brought their common market to life by simultaneously cutting...
Reconstruction. The conquering generals quickly sought expert economic advice from Raul Prebisch, who was general manager of the Central Bank before Perón. Almost at once they scrapped IAPI, devalued the peso. Farmers were again able to keep, with some exceptions, what their -exported crops earned. The effect: a fattened peso return for agriculture. Planting and animal breeding zoomed. The cattle population is up from a low of 40 million to 49 million, i.e., 2½ head for every Argentine v. one-half in the U.S. This year's wheat harvest was 36% greater than last year...